3.52% School Tax Hike Approved In Hatboro-Horsham
HATBORO / HORSHAM TOWNSHIP, PA —Residents in the Hatboro-Horsham School District will pay an additional 3.52 percent in taxes next year.
At a recent meeting, the school board approved its 2024-2025 budget of $132,011,340 which increases taxes by 3.52 percent.
The tax hike is the second highest since the Act 1 Index began. The district increased taxes by 3.68 percent last year. The Act 1 Index for this year is 5.3 percent.
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The district this year did not break down the tax increase for the average homeowner as in previous years. Instead, it provided increases based on an assessment scale.
These are the assessments for property owners:
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The tax hike will generate $2,893,710 in revenue which will balance the budget and will not reduce educational programs, school officials said.
The 3.52 percent tax increase is under the Act 1 Index of 5.3 percent, the percentage a school district could raise taxes by this year. A referendum approval by taxpayers would be needed if an increase was proposed for over the Act 1 indexSeeking more than that would need taxpayer approval via a referendum.
Director of Business Affairs Bill Stone said the 1.78 percent difference between the Act 1 Index and the actual percentage increase in the budget is the highest since the index was instituted in 2007-2008.
Last year, the school board approved a tax hike of 3.68 percent tax increase, the highest since the 2008-2009 school year, according to figures provided by the school district.
For the 2007-2008 school year, the tax increase was 3.09 percent, followed by 3.21 percent for the 2008-2009 school budget.
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